Crypto is on a tear, and I don't expect it to slow down soon. I think we may see Crypto start to outperform gold in the years ahead. The reason is simple, the world of finance is adopting crypto. The US government is passing milestone after milestone decision to make crypto legitimate. The IMF is starting to discuss how to incorporate crypto in global finance.
Countries like India area also getting in on the crypto bandwagon. Individual transactions are now hitting over 1 billion dollars per transaction, quite impressive.
Crypto IS the future, gold is not. Gold I still think does OK, but crypto will steal the show over the next decade. I still think GDX may 100 a share , up from 16 bucks in March in the years ahead. HOWEVER Gold is no longer 'the play' and therefore GDX may never reach that level. The issue with gold is....its just a shiny rock. Crypto is evolutionary, movement of a billion dollars in seconds. Try that with gold bars.
But Gold will get capped, simply because its not a favored winner of the future. With Crypto hype, the world banks can start to create their own crypto and extend their relevance in world finance, perhaps for another 50 years. Also please consider true diversification out of pure USD assets.
The stock I really really like is GTBC, it was 11, now 15, it could hit a 1000 a share in a few years. They are one of the largest holders of bitcoin, so buying it is a proxy for bitcoin proxy. As previously mentioned they are also bringing stock symbols to market to make it easier to trade in crypto between stocks and crypto. They are trying to figure out how to be 'the play' for movement from USD based finance to a crypto-USD based finance.
For valuation, nothing will beat Bitcoin, it is the new gold. Bitcoin I don' think will ever become a currency, newer blockchain innovations ahead will be. But I do think Bitcoin moves from 13K to 250K a coin, maybe even 1 million. Bitcoin is a Ponzi scheme, but so is gold, I'll ride this wave as far as it can go.
Other cryptos I like are Ethereum, I think Compound at $115 right now is a buy, but consider dumping if it falls below 94. And taking some profits at $225. Click here to understand the kick off reinventing global finance with DEFI .
I have about 1/3rd of my savings directly into cryptos, and a 1/5th in crypto stocks, I'd like to move that to 1/2 in crypto stocks. Its quite hard to drop some existing positions. So I am taking this stuff seriously. I'll reconsider my positioning post January 2021.
I am not a financial advisor, but consider starting to read some of my past posts and do your own research to get onto the Crypto Rocket
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